Global X has expanded its UCITS range with the launch of Europe’s first pure-play silver miners ETF, ETF Stream can reveal.

The Global X Silver Miners UCITS ETF (SILV) is listed on the London Stock Exchange and Deutsche Boerse with a total expense ratio (TER) of 0.65%.

SILV tracks the Solactive Global Silver Miners Total Return v2 index which currently offers investors exposure to 40 companies that are active in the silver mining industry.

This includes companies with significant revenues generated from silver mining activities such as exploration and the refining of silver.

In order to be eligible for inclusion, companies must have a market cap of at least $60m if they are not current constituents or $30m if they are currently in the index.

The average daily traded value must exceed $250,000 over the last three months or $125,000 if they are current constituents.

Rebalanced semi-annually, each stock is capped at 15%.

The firm already runs the US-listed Global X Silver Miners ETF (SIL) which has gathered $1bn assets under management (AUM) since launch in April 2010.

SILV follows the launch of the Global X Uranium UCITS ETF (URNU) last month which offers exposure companies involved in the mining and production of nuclear components.

Global X also offers exposure to copper miners through the Global X Copper Miners UCITS ETF (COPX) which it unveiled last November.

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